How to Change Cash into Pesos as a Tourist in Argentina

The “Blue Dollar” exchange buys you more Argentinian Pesos

UPDATE January 2020: how quickly things change in Argentina. A new president, new monetary policies, and the “Blue Dollar”, the unofficial exchange market for Argentinean Pesos [ARS], is back! In our post, we will show you the best ways to get cash Pesos in Argentina.

It’s all “déjà vu” for us. I wrote some of the original article in 2014, nearly 6 years ago. At that time, the last government under President Mauricio Macri, lifted the currency restrictions on the 16^th of December 2015, thus killing most demand for the ‘Dólar Blue’ [commonly used Argentinean spelling, with only one ‘L’], but at the same time it also increased inflation almost overnight.

We happened to be in Buenos Aires at the time . I changed our last cash for Blue Dollars on Calle Florida the exact day that the floating of the Argentinean Peso was announced in the evening hours. The next day the official bank rate was almost identical.

Unfortunately, the floating of the currency also had an immediate impact on prices (especially for imported goods): that same day I had bought tobacco at a shop for a reasonable ARS 60/pack. Only 10 days later, after the Christmas break, I paid ARS 95 for the same tobacco, in the same shop.

The Dollar Blue unofficial exchange and its current rates

You can find the current “Blue Dollar” rates published (and updated) on the internet . To follow the development of the rates look on Twitter @dolarblue . ATTENTION: you will get the best rates for large denominations, 100-Dollar bills are preferred, 50-Dollar bills are accepted if new and undamaged!

If you don’t have internet access, you can check the good old-fashioned newspaper! Most have the exchange rates listed on the front page. Look for the ‘dólar informal‘ rate and compare it with the ‘dólar oficial‘, the bank rate. In small towns, the people we changed with often grabbed a newspaper first to check the day’s rate.

How to change money as a tourist in Argentina

As a visitor to Argentina, you probably don’t care much about the historical and political background of the country’s financial situation. All you want is to enjoy your stay in this beautiful country and get the best value for your money. So here are some tips for handling money in Argentina.

The situation with withdrawals from ATMs

Because the new government decided on currency restrictions again, a regular withdrawal at an ATM will be the least favourable option to get Argentinean Pesos. Since late December 2019, you will always get the bad official exchange rate for withdrawals. On top of that, ATM withdrawals are now subject to a new 10% government tax plus the bank’s ATM charges!

Also, ATM withdrawals are kept at a very low maximum per transaction. The current limits for cash withdrawals from ATMs range between 3000 to 5000 Pesos in cities. In small rural towns, they can be as low as 1500 ARS – if the machine has any money at all!

Official currency change offices

At official money changers, you will also only get the government-set rate – but without the added 10% tax and ATM charges. By law, there shouldn’t be any additional commission on transactions at money changers. You will need to bring your passport, a photocopy is not accepted! Money changers can only be found in larger cities, not in small rural towns.

Paying by credit card in Argentina

Again, all credit card transactions are converted at the official rate of the day. But at least you don’t have extra ATM charges. Many people recommend asking if you can receive a small cash-out on top of your bill. This apparently works well with larger amounts, like a hotel bill or buying fuel at a station. You could use this method to build up enough small cash for day-to-day expenses without lining up at an ATM.

Some stores accept Dollars as payment

This is a neat way to get some petty cash during the day! You will need smaller denominations, like $20 or $50 bills to pay at stores with Dollars; you’ll receive your change in Argentinean Pesos, either at the official rate or a little better. Coto supermarkets and some department stores, like Havanna and Falabella, accept payments in foreign money – even for something as small as a soft drink.

Several people suggest asking in ‘Casinos’ to change money. If they refuse, you can always buy some gambling chips with foreign currency and then change them back into Pesos.

Better bring cash US-Dollars or Euros!

No, don’t change your cash into Argentinean Pesos at home; you’ll get the same bad rate (or likely worse) as in Argentina! If you’re from a country with another currency than US-Dollars or Euros you might want to go the bank to buy these to bring to Argentina.

Really, despite the risk of carrying a lot of cash money, you will get the best exchange rates for cash, if changed with unofficial money changers. The good news for Europeans is that, alongside the US-Dollar, the Euro is also in high demand so you can change Euros directly without first converting them into US-Dollars. For safety, you should keep most of your cash in your hotel safe; only carry what you want to change that day.

Tip for long-term travellers (like us): If you don’t have any cash Dollars, then stock up in the neighbouring countries – in most of them you can get US-Dollars at banks, at money changers (eg. Santiago de Chile), or through the ATMs (Bolivia and Uruguay). Particularly in Uruguay, I found the exchange rate to be very good. If you are planning to stay for more than a couple of weeks in Argentina don’t change too much cash at once, because the galloping inflation might catch up with you or you could end up with too many Pesos when you want to leave!

Places to change cash for Argentinean Pesos at ‘Dollar Blue’ rates

In Buenos Aires, it’s easy to change cash into Pesos. If you walk along “La Florida”, the main pedestrian zone, you will encounter “arbolitos” (~ little trees, the Argentinian moniker for money changers) every 10-20 meters. You should bring large denominations, as $100 and $50 bills give you a better rate.

From my personal experience, I would add that Monday morning seems to be a bad time to change, as the current daily rates aren’t out yet, so the “arbolitos” are a little more hesitant in offering you a better rate. It’s also worthwhile not settling on the first deal you are offered if you have a larger amount to exchange. Some Spanish language will help…

Changing money with an ‘Arbolito’ in Buenos Aires.

I haven’t heard any stories about people being cheated in such deals, although occasionally they take place in fairly hidden corners. Many of the “arbolitos” work for commission and will guide you to a shop or an office in the back of a shopping arcade. Just make sure you get the same rate as agreed upon before you follow the guy; otherwise walk away.

In smaller towns we have been very successful finding a good cash exchange rate when asking at shops, which are Chinese owned. Often these are shops for technology stuff: smartphones, electronic gadgets, etc. Sometimes we received almost the traded ‘Dolar Blue’ rate, other times a lot less – but still considerably more than we would have got at any bank. We were also successful asking in larger tourist hotels if they would change for the ‘Dolar Blue’ rate.

Western Union, your friend in Argentina

We have learnt of a neat trick to get around this and be able to withdraw more money than the meagre limits of almost all ATMs in the country.

You need a Western Union account before you travel to Argentina. Then you wire yourself funds via Western Union to Argentina and collect them at a WU outlet or a larger office displaying the ‘PagoFacil’ sign. Bonus: from all accounts, Western Union gives a good exchange rate, which can be slightly better than the ‘Dolar Blue’ rates offered on the streets. I have read that the same works with XOOM, another online transfer service; XOOM pays out through Cobroexpress in Argentina.

Western Union – Argentina

Worked perfect for me! In some comments I read that WU is a good option to send money to Argentina. So I tried it out.

I sent myself today money with WU to Argentina (me–>myself). 500CHF –> 36’277ARS (1CHF = 72.55ARS), more or less the same in USD.
Had to pay CHF 3.90 for the transaction.
This is way better than with an ATM (6000ARS –> 600ARS transaction fee)
And a lot better than change it from USD in Calle Florida or in other casa de cambio where I got an exchange rate of around 1UDS = 60ARS.
So I think that is one of the best option to get cash (and better than paying with Credit Card)
The only challenge is to find a WU where they have enough cash.

Hope that helps some of you.
Safe travel!

[quoted from PanAmerican Travelers on Facebook . CHF is the acronym for Swiss Franc.]

You see: changing on the black market can save you some serious money, or at least make up for the galloping inflation and rising prices during your stay. In most places it’s easy, as many hotels, shops and people on the street are offering to change your money for a better rate than banks.

A final word of caution: if you have too many Argentinean Pesos left at the end of your stay you can only exchange a maximum of 100 Dollars worth of pesos back to Dollars or Euros! This limit is per person.

Further Reading

Argentina has been struggling throughout the last decades to keep its finances in order. As The Guardian portrayed the situation so fittingly in 2013 “Argentina engages in serial, self-inflicted economic upheaval.”

The Guardian on the current financial crisis in Argentina , blaming in part the IMF.

More on Reddit about money transfers using Western Union .

Please share this post on Pinterest to show your friends or to remember for later: